Note 4 – Intangible Assets Information regarding our intangible assets including assets recognized from our acquisitions was as follows (in millions):
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September 30, 2022 |
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December 31, 2021 |
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Gross Carrying
Amount |
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Accumulated
Amortization |
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Other |
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Net Carrying
Amount |
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Gross Carrying
Amount |
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Accumulated
Amortization |
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Other |
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Net Carrying
Amount |
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Finite-lived intangible assets: |
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Developed technology |
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$ |
299 |
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$ |
(179 |
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$ |
2 |
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$ |
122 |
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$ |
299 |
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$ |
(150 |
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$ |
3 |
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$ |
152 |
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Trade names |
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2 |
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(2 |
) |
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— |
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— |
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2 |
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(1 |
) |
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— |
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1 |
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Favorable contracts and leases, net |
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113 |
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(46 |
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— |
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67 |
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113 |
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(40 |
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— |
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73 |
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Other |
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36 |
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(22 |
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1 |
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15 |
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36 |
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(21 |
) |
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1 |
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16 |
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Total finite-lived intangible assets |
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450 |
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(249 |
) |
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3 |
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204 |
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450 |
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(212 |
) |
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4 |
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242 |
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Indefinite-lived intangible assets: |
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Gigafactory Nevada water rights |
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15 |
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— |
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— |
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15 |
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15 |
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— |
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— |
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15 |
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Other |
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9 |
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— |
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— |
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9 |
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— |
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— |
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— |
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— |
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Total infinite-lived intangible assets |
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24 |
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— |
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— |
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24 |
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15 |
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— |
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— |
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|
15 |
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Total intangible assets |
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$ |
474 |
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$ |
(249 |
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$ |
3 |
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$ |
228 |
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$ |
465 |
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$ |
(212 |
) |
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$ |
4 |
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$ |
257 |
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Total future amortization expense for finite-lived intangible assets was estimated as follows (in millions):
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Three months ending December 31, 2022 |
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$ |
12 |
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2023 |
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|
43 |
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2024 |
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28 |
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2025 |
|
|
28 |
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2026 |
|
|
27 |
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Thereafter |
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|
66 |
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Total |
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$ |
204 |
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